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| Karl Berger of Toron Capital Markets |
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| DON'T BUY | Bank of America | BAC-N | 7.070 | Not a favourite of his at all. You are taking on a degree of risk that is more akin to trading a stock as opposed to investing. | 2012-01-20 | ||
| Comment | Walt Disney | DIS-N | 39.310 | Still reasonably cheap. Have strong properties and have leveraged them very well. Considers it as a bit of a defensive play. | 2012-01-20 | ||
| Comment | Honda Motor Ltd. | HMC-N | 34.540 | Car industry has recovered a little bit off the lows, but certainly isn't back to trend growth and doesn't think it will be for quite some time. Honda is relatively well positioned relative to Toyota (TM-N) and some of the North American manufacturers. Likes their motorcycle division and its margins. Has a little bit better product mix than Toyota. If your portfolio is not heavily weighted toward cyclicals and things that require robust economic growth, then you could add this and be comfortable. | 2012-01-20 | ||
| BUY | Intel | INTC-Q | 26.380 | Just made a new 52-week high. In the tech space there is reason to be a little bit constructive. A lot of companies have held off on their spending over the 2008-2009 period. There is a pent-up demand that will possibly be satisfied over the next little while. He prefers Taiwan Semiconductor (TSM-N). | 2012-01-20 | ||
| TOP PICK | Luxottica | LUX-N | 30.830 | Sunglasses. Italian domiciled company and get about 25% of revenues from European operations and the rest from outside of Europe. Have done fairly well through recessionary times. If spending gets back up to luxury levels, they should do even better. | 2012-01-20 | ||
| PAST TOP PICK | 3M Co. | MMM-N | 85.650 | (A Top Pick Feb 11/11. Down 4.11%.) Still solid and still likes. | 2012-01-20 | ||
| PAST TOP PICK | Power Financial Corp | PWF-T | 26.960 | (A Top Pick Feb 11/11. Down 9.33%.) Still solid and still likes. | 2012-01-20 | ||
| Comment | Rio Tinto | RIO-N | 57.340 | His preference is BHP Billiton (BHP-N) but there isn't a whole lot to choose between the 2. Commodities will still probably struggle over the next little while. If the portfolio is not over weighted with this type of holding, he would have no problems in owning. | 2012-01-20 | ||
| DON'T BUY | Teck Resources Ltd. (B) | TCK.B-T | 41.930 | The commodity complex is a little bit under pressure at this time. The growth phase of the economy at this time, he wouldn't be concentrating exposure to it. | 2012-01-20 | ||
| Comment | Vodafone Group PLC | VOD-Q | 27.760 | Has done a very good job of developing foreign markets and a significant portion of their exposure comes from outside of Europe. However, they do have a relatively high concentration of their business in Europe still, which is not the best regulatory environment for mobile or phone company. A reasonable holding but he prefers others. | 2012-01-20 | ||
| DON'T BUY | Walgreen Co | WAG-N | 33.480 | Doesn't feel they have executed brilliantly. He owns, but is not keen on adding to at this time. | 2012-01-20 | ||
| TOP PICK | CML Healthcare | CLC-T | 10.440 | Lab testing and medical imaging. Nice demographics in the healthcare space as the population ages. Sold their US holdings. Solid dividend yield, which they can grow fairly dramatically over the next little while. 7% plus yield. | 2012-01-20 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Markets. US economy is functioning a little better than it was coming out of 2011. People should not forget that there are still some rough patches ahead, but there is no reason to be overly pessimistic. Europe has addressed to a degree the short term bank liquidity side of things and are starting to talk longer-term fiscal European issues and the structures they need to change. It will take a long time to reform European politics. Doesn't think Greece is that relevant in the long-term theme of things. | 2012-01-20 | ||
| Comment | Telefonica S.A. | TEF-N | 17.360 | Recently cut their dividend and there is risk of another cut. Their Latin American operations aren’t growing quickly enough to offset what is going on in Europe. | 2012-01-20 | ||
| Comment | France Telecom | FTE-N | 14.940 | Anything to do with France at this time, and particularly with this company, will be heavily weighted by what happens in France and you need a longer time horizon than 1 year. Telecom space is pretty solid at this stage. Balance sheets are good and dividends are reasonable. | 2012-01-20 | ||
| PAST TOP PICK | Itau Unibanco Holding S.A. | ITUB-N | 21.100 | (A Top Pick Feb 11/11. Down 1.04%.) Still solid and still likes. | 2012-01-20 | ||
| TOP PICK | Giant Manufacturing | 9921-TW | 0.000 | (Taiwan exchange.) One of the largest manufacturers of bicycles and E-Bikes (electric bikes) globally. Need a little bit of economic growth in order to fully realize the potential for this company. Well positioned with regards to the Chinese market. Biggest risk would be input costs. | 2012-01-20 | ||
| DON'T BUY | Alcoa | AA-N | 9.260 | Fairly heavily dependent on the overall level of economic activity. Large company so lots has to go right in terms of the economy for it to grow to much of an extent. Skinny dividend. | 2011-11-22 | ||
| TOP PICK | North West Company | NWC-T | 18.920 | Fantastically run company in the Arctic as well as the Caribbean. Likes them because they are a little bit of a play on continued development of the mining sectors in northern Canada. Good dividend yield of 5%. Good operators. Nice sustainable competitive advantage. | 2011-11-22 | ||
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| Comment | Potash Corp of Saskatchewan | POT-T | 43.840 | Really likes the commodity agricultural story. This is a great way to play it. You have to be prepared for volatility over the next little while. Nothing wrong with it as a long-term holding. | 2011-11-22 | ||
| PAST TOP PICK | Smith & Nephew PLC | SNN-N | 44.030 | (A Top Pick Nov 19/10. Down 2.76%.) Economic environment has taken some of the wind out of their sails but they'll come back. | 2011-11-22 | ||
| PAST TOP PICK | Cineplex Inc | CGX-T | 24.830 | (A Top Pick Nov 19/10. Up 22.74%.) Great hold. | 2011-11-22 | ||
| PAST TOP PICK | BHP Billiton Ltd. | BHP-N | 69.370 | (A Top Pick Nov 19/10. Down 17.27%.) Very well positioned for when global growth returns and commodity prices return. | 2011-11-22 | ||
| DON'T BUY | Westpac Banking Corp | WBK-N | 100.140 | Australian bank. Dividend is probably maintainable but doesn't think it is likely to grow at any stage. Doesn't think there is a lot to be gained from global financial institutions at this stage. Fairly valued, similar to Canadian banks. 8%+ yield tells you something. | 2011-11-22 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Gold. Why would anyone want to own paper currencies? Most people have come around to believing that gold should be a part of their portfolio. His problem is that gold is not a producing asset of creating anything for an investor's portfolio. This should be a place for gold, but it should be very limited. | 2011-11-22 | ||
| TOP PICK | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Videotron 6.875% bonds maturing July 15/21. Represents a nice play on the notion of deflation or continued sluggishness in the global growth picture. Very well-run company. Very liquid. | 2011-11-22 | ||
| TOP PICK | Royal Dutch Shell PLC (A) | RDS.A-N | 67.050 | Interesting dynamic at this point because they are coming to the end of a multimillion dollar spend on developing production capacity over the last number of years. Feels the 5% dividend is more than sustainable and possibly even rise. | 2011-11-22 | ||
| DON'T BUY | Petroleo Bras Sa Petro | PBR-N | 25.900 | Fantastic company. Not one of his picks in the sector because so many of their production assets are offshore. Very deep water with high costs. Decent dividend. There are better choices in this sector. (See Top Picks.) | 2011-11-22 | ||
| DON'T BUY | United States Steel | X-N | 24.250 | Not a good dividend yield and there are better ways to get exposure to the notion global growth resuming. Have a pretty heavy debt burden on their balance sheet. | 2011-11-22 | ||
| DON'T BUY | Deutsche Bank AG | DB-N | 33.590 | Any allocation to European financial institutions should be very modest because there is so much uncertainty around the past that the resolution that the sovereign debt crisis is going to take. European banks seem attractive but there is difficulty in getting a look through their balance sheets and what exactly is in the books. | 2011-11-22 | ||
| WATCH | Schneider Electric | SU-EPA | 0.000 | French index. A couple of challenges. Industrial so fairly cyclical and fairly leveraged to overall economic activity. Company is doing extremely well. Organic growth is good with good penetration into emerging markets. 4.4% yield which should be fairly secure. Might be quiet for the next couple of years. Watch the company and their business plan and what they are focused on. | 2011-11-22 | ||
| DON'T BUY | Bank of America | BAC-N | 8.120 | Doesn’t fit the way he looks at US banking. So many question marks with respect to Country Wide. Not a good risk reward. | 2011-08-30 | ||
| DON'T BUY | Encana Corp | ECA-T | 24.320 | Depends on price of Natural gas. It is tied to the underlying commodity. Would suggest producers that have a mix in the commodity. Will be a frustrating stock. We are at a 6-year low in Nat Gas. | 2011-08-30 | ||
| DON'T BUY | ING Groep NV | ING-N | 8.390 | Caught up in banking challenges in Europe. Have a good focus on the international retail market. Before he looked he would see what exposure they have to the European sovereign market. Research this stock and its exposure. | 2011-08-30 | ||
| BUY | Johnson & Johnson | JNJ-N | 65.770 | Some operation issues that he believes are resolved right now. Good pipeline of drugs. Issued 10-year debt at 3% but divined is higher. He would want to move from bonds to equity. | 2011-08-30 | ||
| HOLD | McDonalds | MCD-N | 90.780 | An interesting holding. Don’t sell at this stage. In a low growth environment, this is defensive. Spectacular growth over the last couple of years. Well run operations. | 2011-08-30 | ||
| HOLD | Schlumberger Ltd. | SLB-N | 77.330 | You can afford to wait if it is a small exposure. Excellent operators. Will be robust industry going forward. No issue with the name. | 2011-08-30 | ||
| PAST TOP PICK | Smith & Nephew PLC | SNN-N | 48.950 | (Top Pick Nov 10/10, Up 2.12%) knee replacements, demographic play. Last year and a half have not been that robust because knee replacements are a little bit elective. There is a pent up demand for this kind of surgery. Some interest in the space from some of their competitors. | 2011-08-30 | ||
| STRONG BUY | Teva Pharmaceutical | TEVA-Q | 40.530 | Generic drug industry – governments should have preference for generic drugs. They will continue to grow. They had patent challenges from an MS drug they make. Should come to court in the fall. Market will eventually realize there is more value. Worth looking at. He was thinking of recommending it as a top pick today. | 2011-08-30 | ||
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| TOP PICK | Trans Canada Corp | TRP-T | 41.700 | Keystone pipeline will get done. Project has as much of a green light as it’s going to get. There will be more opposition. Will be hugely accretive over the next few years. | 2011-08-30 | ||
| PAST TOP PICK | Cineplex Inc | CGX-T | 25.950 | (Top Pick Nov 10/10, Up 25.25%) and he collected a pretty good dividend. Good at growing revenue from concessions. Reasonably recession proof. | 2011-08-30 | ||
| WAIT | ICICI Bank Ltd. | IBN-N | 38.080 | Nothing wrong with stock It is coming back to prices that would make him take a look at it again. | 2011-08-30 | ||
| PAST TOP PICK | BHP Billiton Ltd. | BHP-N | 84.080 | (Top Pick Nov 10/10, Down 5.94%) Performed exceedingly well until 6 weeks ago. Doing brilliantly. August was not particularly kind to them. Fantastic way to get commodity exposure going forward. Increased dividend recently and will not be a problem. | 2011-08-30 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | China: Great to diversify by geography as well as industry. China’s market has been hard to ignore because of the pace of growth. You don’t have visibility into corporate governance and so on. You want exposure to China by investing in companies that do business there. Prefers SGS to get exposure to China. | 2011-08-30 | ||
| N/A | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Market: Frustrating market for investors. Corporate fundamentals look very, very good. Balance sheets have lots of cash on them that is not getting put to work. Equity markets don’t reflect this. Fears over the US and European economy and US sovereign debt standpoint. Investors don’t need to be completely afraid of it. We haven’t priced in the worst expectations. But it is a bullish signal when bad news is taken as a good thing as it was today. This was a holiday month and was thin participants-wise. Employment numbers at the end of the week will be the big data point. June and July he went to 10-12% cash and is mostly there. During August he brought any clients down to that point if they were above. | 2011-08-30 | ||
| SELL | Telefonica S.A. | TEF-N | 20.510 | Growth in Latin American operations has not been enough to keep them from Spanish economy. Don’t have refinancing risk until 2013. Safe to say he is reconsidering position. Doesn’t think dividend increase they promised will continue. | 2011-08-30 | ||
| DON'T BUY | Lloyds TSB Group PLC | LYG-N | 2.080 | Retail perspective is all that would draw him to this one. You have to understand its exposure to sovereign debt and to other banks that have that exposure. There would have to be some compelling aspects to their story. | 2011-08-30 | ||
| BUY | Claymore BRIC ETF | CBQ-T | 28.040 | He likes specific stocks. Uses ETFs in TFSAs due to size of account. 10% down recently is to be expected because of the volatility in emerging markets. You need to manage the percentage of your portfolio because of volatility. | 2011-08-30 | ||
| TOP PICK | Diageo PLC | DGE-LN | 0.010 | One of the biggest brands in the world. Particularly suitable at this time. Sell all over the world. Europe hurt their performance over the last couple of years. Descent growth in other countries. Don’t need dramatic growth in the economy to benefit. | 2011-08-30 | ||
| TOP PICK | Ross STores Inc. | ROST-Q | 76.440 | Off channel retailer. Sell at deep discounts. Nicely positioned to benefit from consumers desire to wear brand name clothing at a discount. | 2011-08-30 | ||
| DON'T BUY | Bank of Ireland (Gov & Co) | IRE-N | 1.240 | You think of this kind of stock from a trading perspective and not a holding perspective. It is a distressed situation. If you have risk tolerance. | 2011-08-30 | ||
| BUY | Itau Unibanco Holding S.A. | ITUB-N | 17.820 | Frustrating recently. Dragged down with Brazilian market. Pure play on Brazilian economy. Quite content to hold on to it. Their economy will struggle for some time. Patience might be needed. | 2011-08-30 | ||
| DON'T BUY | Overseas Shipholding | OSG-N | 18.430 | Has a lot of head winds to it. Oil tanker business is over developed over the last couple of years. IF we have slow growth in North America it wont bode well for a stock like this. Not a great balance sheet. Keystone will have an impact on tanker shipping North South. But it appears to be cheap. | 2011-08-30 | ||
| SELL | Cisco | CSCO-Q | 18.700 | Just sold out his position for some of his clients. Disappointed with the guidance and results in the last couple of quarters. Better places for your money. | 2011-02-11 | ||
| PAST TOP PICK | Fairfax Financial | FFH-T | 391.170 | (A Top Pick Jan 5/10. Up 8.35%.) Preferred shares 5.75%, series C. | 2011-02-11 | ||
| PAST TOP PICK | Johnson & Johnson | JNJ-N | 60.700 | (A Top Pick Jan 5/10. Down 1.33%.) | 2011-02-11 | ||
| Comment | Labrador Iron Mines Holdings Ltd. | LIM-T | 12.250 | (Just found another 20 million tonnes of iron ore deposits.) Iron ore prices drives this entire area. You have to be willing toe take this exposure. Have done a reasonably good job of executing their business plan. | 2011-02-11 | ||
| TOP PICK | 3M Co. | MMM-N | 91.800 | Well positioned to benefit from a continued economic recovery. Good mix of businesses globally. Good product diversification. 2.5% dividend. | 2011-02-11 | ||
| DON'T BUY | Pfizer Inc | PFE-N | 18.828 | Not keen on the big pharma complex at this stage. This one in particular has had struggles with their pipeline. There are better ways to play the health care space. | 2011-02-11 | ||
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| TOP PICK | Power Financial Corp | PWF-T | 30.950 | Reasonably defensive play because of the strong dividend yield. With up tick in interest rates, Great West Life (GWO-T) is poised to grow. Investors Group (IGM-T) will be adding more to the bottom line than they have. Has potential to trade from high $30’s to low $40’s. | 2011-02-11 | ||
| PAST TOP PICK | Smith & Nephew PLC | SNN-N | 58.470 | (A Top Pick Jan 5/10. Up 16.75%.) | 2011-02-11 | ||
| BUY | Teva Pharmaceutical | TEVA-Q | 51.040 | Loves the generic drug theme, which is a theme that will continue over the next couple of years as governments continue to cut health care coasts. Good growth. | 2011-02-11 | ||
| Comment | ICICI Bank Ltd. | IBN-N | 45.340 | Indian market in general is overvalued at this stage. The problem they are going to face, as a bank in India, is that the reserve bank is going to continue to hike rates meaning a more expensive source of capital. Stock is getting to a place where it is a reasonable value but it may take more than 6 to 9 months to get back to recent peaks. Volatile. | 2011-02-11 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Is it a good time to be buying high dividend US stocks with the strong Cdn$? Would discourage looking at US stocks based on making a bet on the exchange rate. First you should see if the US market is appropriately valued. What does it do to your portfolio with what you already own and does it double up on anything you already have? | 2011-02-11 | ||
| HOLD | Telefonica S.A. | TEF-N | 24.920 | Situation in Spain is a drag on the stock as it is on most European stocks at this stage, but a significant amount of their earnings comes from outside of Europe. Latin and South America in particular. Good dividend yield. | 2011-02-11 | ||
| BUY | Royal Dutch Shell PLC (A) | RDS.A-N | 68.400 | Oil assets make a lot of sense as part of a core holding in a portfolio. This is an integrated producer so does all kinds of things. Good solid dividend yields of 5.5% or higher. | 2011-02-11 | ||
| TOP PICK | Itau Unibanco Holding S.A. | ITUB-N | 21.910 | 2nd largest Brazilian bank. Pure banking play. Sees the Brazilian market continuing strong. Some indications of inflation but not to the same extent as in India or China. Good way to get emerging market exposure. | 2011-02-11 | ||
| DON'T BUY | Bank of America | BAC-N | 11.660 | Still not keen on US banks or financials as a whole. Still have a threat of real estate issues hanging over them. Also facing a new stress test. Can’t see any growth. | 2010-11-19 | ||
| DON'T BUY | BP PLC | BP-N | 42.030 | Has not felt there was an opportunity in the last 6 months based on their challenges. Too risky for his style of investing. | 2010-11-19 | ||
| Comment | Cisco | CSCO-Q | 19.610 | Had bad news last week so he has a concern about what they are doing going forward. About 20% of sales are to different US governments where spending will be constrained. He’ll be holding until he sees if this is an industry wide issue or not. | 2010-11-19 | ||
| PAST TOP PICK | Fairfax Financial | FFH-T | 399.000 | (A Top Pick Oct 14/09. Up 12.4%.) Preferred shares-series C, 5.75%. | 2010-11-19 | ||
| DON'T BUY | Pfizer Inc | PFE-N | 16.798 | Concerned with risk from generic competition to the big pharmas. Prefers Teva (TEVA-Q). The big pharmas will continue to struggle because of this. | 2010-11-19 | ||
| TOP PICK | Smith & Nephew PLC | SNN-N | 46.910 | Valuation is closer to $60. Likes the demographics for hip and knee replacements. Took a bit of a dip through 2008-2009 as the economy contracted. | 2010-11-19 | ||
| PAST TOP PICK | A T & T US | T-N | 28.320 | (A Top Pick Oct 14/09. Up 17.27%.) Considering switching to a similar company such as Vodaphone (VOD-Q). | 2010-11-19 | ||
| BUY | Vodafone Group PLC | VOD-Q | 26.940 | Dividend yield of over 6% (?) is probably sustainable. Very interesting utility. Good geographic footprint and diversification. | 2010-11-19 | ||
| BUY | Vale S.A. | VALE-N | 32.590 | Just announced an expenditure of $10 billion over 5 years on projects in Canada. Company has an incredible stable of assets and if you want commodity exposure, they are good. A little richly valued. (See Top Picks.) | 2010-11-19 | ||
| TOP PICK | Cineplex Inc | CGX-T | 21.470 | Solid distribution of 6% yield. Demonstrated of being incredibly adept at generating revenue form sources other than the box office. Ad revenues are growing. Good at filling their theatre space with other than front line movies. | 2010-11-19 | ||
| TOP PICK | BHP Billiton Ltd. | BHP-N | 86.490 | Strong management. Missed on a bid to acquire Potash (POT-T) but still have all kinds of opportunities to grow. Have a Buy-Back program. An unparalleled suite of assets in commodities. Expect they will increase their dividend at some point. Have a lot of cash. | 2010-11-19 | ||
| BUY | Royal Dutch Shell PLC (A) | RDS.A-N | 65.440 | Fantastic integrated oil company. Some exposure to oil prices but has so many other parts that there is very little volatility compared to oil prices. Good dividend yield. | 2010-11-19 | ||
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| Comment | Standard Life | SL-LSE | 0.001 | (London Exchange) Insurance industry is interesting because of the long period of low rates, which he expects will be with us for some time. Very difficult for insurers to grow their asset base in excess of their liability base. In the long term insurance industry will come back. | 2010-11-19 | ||
| PAST TOP PICK | Shin-Etsu Chemical | 4063-JP | 0.010 | (A Top Pick Oct 14/09. Down 21.28%.) (Japan Stock Exchange) Struggled because there has been no sustained recovery in US housing. | 2010-11-19 | ||
| Comment | Banco Santander Brasil SA | BSBR-N | 13.950 | Likes having exposure to Latin and middle America. This one is a good play, but not sure what their exposure is to Greece, Portugal or Ireland in terms of bond holdings. | 2010-11-19 | ||
| DON'T BUY | CitiGroup | C-N | 3.760 | Balance sheets of all US major banks are stronger than they were. Will be interesting to see impact of credit write-downs and provisions for bad loans. Major concern is another soft period in US housing. This would not be his choice because of their dependence on the capital market side of things. | 2010-08-27 | ||
| HOLD | Diageo PLC | DEO-N | 66.110 | Just reported and earnings were uninspiring but is reflective of the economic climate. Does better when people are consuming the high-end spirits. Solid dividend and keep raising it. 4.4% dividend. | 2010-08-27 | ||
| PAST TOP PICK | Johnson & Johnson | JNJ-N | 57.600 | (A Top Pick Aug 25/09. Down 3.12%.) Ran into some problems with some product recalls but it is still etched in the cheap. | 2010-08-27 | ||
| Comment | Motorola | MSI-N | 7.680 | Has caught his attention in terms of the competition they are providing. | 2010-08-27 | ||
| DON'T BUY | Nokia | NOK-N | 8.660 | Sold his holdings about 1.5 years ago. Not following up on the strength they had in emerging markets and are being taken over by Google and Apple. Has become a software game as opposed to a hardware game. | 2010-08-27 | ||
| TOP PICK | Teva Pharmaceutical | TEVA-Q | 50.350 | Primarily a generic drug manufacturer. Market has overreacted with the challenge it is facing with from a competitor on one of its branded drugs. 1.5% yield. | 2010-08-27 | ||
| PAST TOP PICK | A T & T US | T-N | 26.940 | (A Top Pick Aug 25/09. Up 8.23%.) Strong dividend yield of over 6%. Still likes. | 2010-08-27 | ||
| Comment | Telus Corp | T-T | 44.250 | Good wireless exposure and growth prospects but concerned it is getting a little too high but that is 15%-20% away. 4.5% yield. | 2010-08-27 | ||
| WEAK BUY | Allied Irish Bank PLC | AIB-N (Dead) | 2.060 | Have a major job in repairing their capital ratios and balance sheet. Thinks there will be significant asset sales to accomplish this, which makes it difficult to evaluate. OK for risk capital and you are interested. | 2010-08-27 | ||
| PAST TOP PICK | A Comment -- General Comments From an Expert | A Commentary | 0.020 | (A Top Pick Aug 25/09. Up 16.68%.) Province of Ontario (Australia$) bond maturing 2016 with about a 6.75% yield to maturity. Made money on both currency and the bond itself. | 2010-08-27 | ||
| DON'T BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Japan? Strong currency in an exporting nation is not good. Not fairly attractive from a demographic standpoint. Has debt issues and a stagnant economy. | 2010-08-27 | ||
| TOP PICK | Telefonica S.A. | TEF-N | 67.050 | Have both fixed line and wireless but the wireless mix is going to be more significant going forward. Also completed an acquisition in Brazil that is expected to be accretive of earnings next year. 7.4% dividend. | 2010-08-27 | ||
| TOP PICK | Genivar Inc | GNV-T | 26.850 | Engineering services firm out of Quebec. Good management that have grown organically and through acquisitions through the years. Nice mix between government and private contracts. Well positioned for any economic rebound. Expect 6% yield to be maintained after conversion Jan 1. | 2010-08-27 | ||
| BUY | Bell Aliant | BA-T | 25.210 | In a good space at this time with strong free cash flow, strong dividend yield and a good track record. 11.5% yield. (Prefers Telus (T-T) with its wireless exposure and better growth prospects.) | 2010-08-27 | ||
| Comment | Banco Santander SA | STD-N | 11.890 | One of the more resilient Spanish banks. Has South American exposure as well. The challenges with the Spanish banks make them difficult to evaluate. Doesn't think all of the bad news is out in terms of the European banking system. 6% yield. | 2010-08-27 | ||
| PAST TOP PICK | Goldcorp Inc | G-T | 45.750 | (A Top Pick May 20/09. Up 7%.) | 2010-05-06 | ||
| PAST TOP PICK | Microsoft | MSFT-Q | 28.980 | (A Top Pick May 20/09. Up 47.62%.) | 2010-05-06 | ||
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| TOP PICK | Power Financial Corp | PWF-T | 29.950 | Owns very solid assets including Great West Life (GWO-T) and Investors Group (IGM-T), which are very well managed. 4.5% dividend. | 2010-05-06 |
